Opening an F45 Training franchise is one of the most exciting opportunities in the boutique fitness industry today. With a globally recognized brand, a proven functional training model, and a loyal member base, F45 is an appealing investment for entrepreneurs who love fitness and business. But with initial costs ranging from $349,000 to $786,000, most prospective franchisees need to secure an F45 franchise loan to get their studio off the ground. Understanding your financing options before you sign a franchise agreement is one of the smartest moves you can make.
This guide covers everything you need to know about financing an F45 Training franchise - from SBA loan programs to equipment financing, qualification requirements, and what lenders actually look for when reviewing a fitness franchise application. Whether you are a first-time business owner or an experienced operator expanding your portfolio, the right financing strategy can make all the difference.
In This Article
F45 Training is a global fitness franchise brand that combines functional training and high-intensity circuit workouts into a 45-minute group session format - hence the name "F45." Founded in Australia in 2013, the brand has expanded to thousands of locations across the United States and dozens of countries worldwide. Its team-training philosophy, proprietary workout programming, and technology platform have made it one of the fastest-growing franchise brands in the boutique fitness space.
F45 studios are relatively lean operations compared to traditional big-box gyms. They typically occupy between 1,500 and 2,500 square feet, rely heavily on equipment-based circuit stations, and run multiple classes per day with 10 to 30 members per session. Franchisees pay for the rights to use the F45 brand, workout programming, and technology platform, while running the studio as an independent business. The brand's strong community culture and member retention rates have attracted both fitness professionals and business-minded investors looking to enter the fitness industry.
With global recognition and a growing footprint in the U.S., an F45 franchise can be a compelling investment. But like any franchise opportunity, the financial side requires careful planning and the right lending strategy from day one.
Before securing any financing, you need a clear picture of what you are actually borrowing for. The total initial investment for an F45 Training franchise typically falls between $349,000 and $786,000, depending on your market, studio size, and buildout requirements. Here is how those costs typically break down:
Beyond startup costs, ongoing fees include a royalty of 7% of gross sales (or $2,500 per month minimum), a brand fund contribution of 2% of gross sales, and a fixed marketing fee of $2,500 per month. Understanding these ongoing obligations is critical when building your financial projections for any loan application.
F45 also requires prospective franchisees to have a minimum of $120,000 in liquid assets, though some sources indicate the actual requirement may be closer to $300,000 depending on the market. Having sufficient liquidity signals to lenders that you can weather the early months of operations before the studio reaches break-even.
Key Insight: According to the SBA, franchises that appear in the SBA Franchise Directory qualify for SBA-backed financing - a significant advantage since SBA loans offer longer repayment terms and lower down payments than conventional loans. Always verify your target franchise brand is SBA-eligible before applying.
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Apply Now →There is no single "franchise loan" product designed specifically for F45. Instead, franchisees typically combine multiple financing products to cover the full startup cost. Understanding the landscape of available options helps you build a strategy that minimizes your out-of-pocket requirement while maintaining manageable monthly payments.
The SBA 7(a) program is the most commonly used financing vehicle for franchise startups. Loan amounts go up to $5 million, and funds can cover franchise fees, equipment, leasehold improvements, and working capital. Repayment terms extend up to 10 years for equipment and working capital, and up to 25 years if real estate is involved. Interest rates are tied to the prime rate plus a lender spread, which typically results in competitive terms compared to conventional small business loans.
If you plan to purchase the commercial space for your F45 studio rather than lease it, the SBA 504 program is worth considering. This program is structured as a partnership between a private lender (who provides 50% of the project cost), a Certified Development Company or CDC (who provides up to 40%), and the borrower (who contributes at least 10%). SBA 504 loans are ideal for major fixed-asset purchases and offer fixed, below-market interest rates on the CDC portion.
Conventional term loans from banks or credit unions are another option, though they typically require stronger credit profiles, higher down payments, and shorter repayment terms than SBA-backed products. They can be useful for borrowers who do not want to navigate the SBA process or need funding faster than the SBA timeline allows. Traditional term loans are best for borrowers with strong credit and at least two years of business history.
F45 studios rely heavily on equipment - kettlebells, resistance bands, medicine balls, battle ropes, rowing machines, and the F45 TV system that runs the workout programming. Equipment financing lets you acquire these assets with the equipment itself serving as collateral, which generally means lower rates and easier qualification than unsecured lending. The loan term typically aligns with the useful life of the equipment, often five to seven years.
A business line of credit is not a primary vehicle for funding the full startup cost, but it is an extremely valuable tool for managing cash flow once you are open. You can draw on it as needed for payroll, marketing campaigns, equipment repairs, or any short-term gap in working capital, and only pay interest on what you use.
SBA loans are the gold standard for franchise financing, and F45's established brand and franchising history make it a familiar name to lenders who work with SBA franchise applicants. The SBA maintains a Franchise Directory that lists approved franchise brands, and lenders use this directory to confirm a franchise qualifies for SBA-backed lending. Being listed in this directory streamlines the review process and signals to lenders that the franchisor has been vetted.
One of the primary advantages of SBA loans for F45 financing is the lower equity injection requirement. Where a conventional loan might require a 20-30% down payment, SBA loans typically require only 10-15%. On a $500,000 project, that difference could mean putting down $50,000 to $75,000 instead of $100,000 to $150,000 - which preserves more of your liquid capital for working capital and operations.
The application process for an SBA loan involves submitting personal and business financial statements, a detailed business plan with projections, a copy of the signed franchise agreement, proof of any collateral, and documentation of your liquid assets. The review process typically takes 60 to 90 days, though working with an SBA Preferred Lender can sometimes accelerate this timeline. SBA loans through Crestmont Capital can help guide you through the entire process from documentation to funding.
By the Numbers
F45 Training Franchise Financing - Key Statistics
$349K
Minimum total initial investment for an F45 studio
$5M
Maximum SBA 7(a) loan amount for franchise financing
10%
Minimum equity injection for SBA franchise loans
3,200+
F45 Training studios open globally as of recent reports
One of the most strategic ways to reduce the pressure on your primary loan is to separate equipment costs into a dedicated equipment financing package. For an F45 studio, equipment costs can range from $75,000 to $175,000, covering functional training gear, the proprietary F45 Lions LED TV display system, flooring, mirrors, sound systems, and general gym fixtures.
Equipment financing structures the loan so that the equipment itself serves as collateral. This means lenders take on less risk, and borrowers often see lower interest rates and more flexible qualification criteria compared to unsecured lending. Equipment financing typically offers repayment terms of three to seven years, with monthly payments that are predictable and straightforward to budget.
For F45 franchisees, equipment financing makes particular sense because the equipment is mission-critical to the business model. Unlike a restaurant where equipment can sometimes be leased from the landlord or franchisor, F45 equipment is owned by the franchisee. This gives you the asset on your books and makes financing it a logical choice. Gym equipment financing through a dedicated lender often provides faster approvals and simpler documentation than going through a traditional bank for the same amount.
Pro Tip: Many F45 franchisees structure their financing by using an SBA 7(a) loan for the franchise fee, buildout, and working capital, while using a separate equipment financing package for the gym gear. This "stacked" approach can reduce your total monthly payment versus rolling everything into a single loan product.
Securing financing for an F45 franchise is not a single phone call - it is a multi-step process that starts well before you sign your franchise agreement. Here is how the journey typically unfolds for most F45 franchisees:
Step 1: Assess your financial position. Before approaching any lender, take stock of your personal finances. Pull your credit reports, calculate your liquid assets, and get a clear picture of your personal balance sheet. Most lenders will want to see a personal credit score of at least 650, and competitive applicants typically have scores of 680 or above. Your debt-to-income ratio, net worth, and available collateral all factor into the initial evaluation.
Step 2: Review the Franchise Disclosure Document (FDD). F45 Training's FDD contains a detailed breakdown of all startup costs, ongoing fees, earnings claims (if any), and franchisee obligations. Lenders who specialize in franchise lending will want to see this document, and it forms the foundation of your business plan financials. Item 19 of the FDD, which covers financial performance representations, is especially important for building your revenue projections.
Step 3: Build a comprehensive business plan. Your business plan should include a market analysis of your territory, competitive landscape, projected membership ramp-up schedule, revenue model, monthly expense budget, and 3-year financial projections. A well-constructed business plan is not just a formality - it is the primary tool lenders use to evaluate the viability of your studio and your ability to repay the loan.
Step 4: Identify and approach lenders. Not all lenders are familiar with fitness franchise lending. Working with a lender that has experience in franchise financing - and ideally in the fitness sector - can significantly streamline the process. Gather multiple quotes and compare terms, rates, fees, and prepayment options before committing to a lending partner.
Step 5: Complete the loan application and due diligence. The formal application process involves submitting business and personal financial statements, tax returns (typically two to three years), your signed franchise agreement, proof of liquid assets, and the completed lender application forms. For SBA loans, additional federal forms are required. The due diligence period typically takes 30 to 90 days depending on the loan type and lender.
Step 6: Closing and funding. Once approved, you will work through the closing process, which involves signing loan documents, establishing any required accounts, and authorizing the disbursement of funds. For SBA loans, funds are typically disbursed in stages aligned with construction milestones. Equipment financing is usually funded as a lump sum once the equipment purchase is confirmed.
Understanding what lenders evaluate before approving a fitness franchise loan helps you prepare a stronger application and anticipate any obstacles before they become problems. Here are the key factors lenders assess when reviewing an F45 franchise loan request:
A credit score of 650 is typically the floor for most franchise lenders, with SBA lenders often preferring 680 or higher. If your score is below this range, consider spending six to twelve months improving it before applying - pay down revolving balances, dispute any errors, and avoid opening new credit accounts.
Lenders want to see that you have enough liquid assets to cover your equity injection, provide a cushion for unexpected expenses, and sustain operations through the ramp-up period. F45 itself requires a minimum of $120,000 in liquid capital, but lenders may want to see more depending on your total project cost and the specifics of your market.
Prior experience in the fitness industry, business ownership, or management is a significant positive signal to lenders. If you have previously owned and operated a business - especially one that demonstrates consistent revenue and profitability - your application is likely to be viewed more favorably. If this is your first business venture, a strong management team and relevant professional background can help offset the lack of direct ownership experience.
Lenders look at the franchise brand itself as a factor in loan viability. F45's global footprint, name recognition, and franchise model all contribute to a lender's confidence in the underlying business. Brands that appear in the SBA Franchise Directory - which F45 has been included in - signal that the franchisor has been reviewed and approved for federal lending purposes.
Lenders calculate your projected debt service coverage ratio by dividing your expected annual net operating income by your total annual debt payments. Most lenders want to see a DSCR of at least 1.25, meaning your business generates at least 25% more income than needed to cover its debt obligations. Your business plan projections need to demonstrate this threshold is achievable within a reasonable timeframe.
SBA and conventional lenders will seek collateral to secure the loan. For F45 studios, collateral typically includes the fitness equipment, any leasehold improvements, and potentially personal assets such as a lien on your primary residence. The SBA does not require full collateralization for its 7(a) loans - if you lack sufficient collateral, you are not automatically disqualified, but lenders will document what is available.
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Get a Free Consultation →Crestmont Capital specializes in business lending for growth-stage businesses, including fitness franchises like F45 Training. As the #1 rated business lender in the U.S., Crestmont Capital offers a range of financing products that are well-suited to the multi-component funding needs of a new F45 studio. Whether you need an SBA loan, an equipment financing package, a working capital line, or a combination of all three, Crestmont can help you structure a financing solution that matches your specific situation.
Working with Crestmont Capital gives you access to experienced loan advisors who understand the franchise financing landscape. Unlike a traditional bank that treats a franchise loan like any other small business application, Crestmont's team is familiar with the F45 franchise model, the FDD process, and the specific costs involved in opening a boutique fitness studio. That expertise translates into a smoother, faster process - and a financing structure that sets your studio up for long-term success.
Crestmont offers small business loans with competitive rates and flexible terms, along with dedicated support throughout the application process. For franchisees who may not meet traditional bank criteria but have a strong business profile and solid franchise backing, Crestmont's fitness company business loans provide an alternative path to funding. You can also explore fitness franchise business loans from our published resource library for additional guidance on franchise-specific financing strategies.
Beyond the initial loan, Crestmont can also help you access working capital as your studio grows - whether that means a business line of credit to cover a marketing push ahead of a new season, or a fast business loan for an urgent equipment repair or expansion opportunity.
Looking at how other fitness franchise owners have structured their financing can help you think through your own approach. The following scenarios illustrate common situations F45 franchisees face and how financing solutions address them.
Sarah is a former corporate professional with a credit score of 710 and $180,000 in liquid savings. She has signed an F45 area representative agreement and is planning to open her first studio in a mid-sized metro market. Her total project cost is estimated at $475,000. Sarah applies for an SBA 7(a) loan for $390,000 (approximately 82% of the project cost), puts $85,000 of her own capital in as the equity injection, and uses a separate equipment financing line for the studio gear. Her SBA loan is approved in 75 days and she opens her studio within six months of signing her franchise agreement.
Marcus has owned and operated an independent personal training studio for five years. His business shows consistent revenue and a strong DSCR. He wants to convert his facility to an F45 Training franchise to benefit from the brand recognition and workout programming. Because he has existing business collateral and documented revenue, he qualifies for a conventional term loan at a competitive rate without needing to go through the full SBA process. He uses a business line of credit for the initial marketing investment around his studio's relaunch.
David is an experienced business investor with a background in real estate. He signs a multi-unit agreement to open two F45 studios in adjacent markets over an 18-month period. He structures his financing as a portfolio loan that covers both locations, with an SBA 504 component for the commercial space he is purchasing for Studio 1, and an SBA 7(a) component for the leased space buildout and equipment at Studio 2. This stacked approach lets him fund both projects while preserving his liquidity for working capital across both studios.
Angela has been running her F45 studio for two years. Her location is hitting consistent profitability and she wants to open a second studio across town. Because she now has two years of F45 operating history, she has concrete revenue data to support a loan application for her second location. Her lender views the second application with significantly less risk than the first, given the proven performance of her existing studio. She secures a combination of a small business loan and a business line of credit to fund the second studio launch and cover pre-opening costs.
Kevin has a solid credit score and business experience but limited liquid capital - he can access about $80,000 in cash but the project cost for his F45 studio is $420,000. Working with a franchise lending specialist, he discovers that certain 401(k) or retirement account rollovers (ROBS arrangements) can be used alongside an SBA loan to meet the equity injection requirement without early withdrawal penalties. While ROBS structures require careful legal review, they are a legitimate tool that some franchise investors use to bridge a liquidity gap. Kevin is also able to negotiate with the landlord for a tenant improvement allowance, which further reduces his out-of-pocket buildout cost.
Priya has been open for three years and her studio equipment is showing significant wear. She needs to replace approximately $60,000 in equipment to maintain the studio standards required by the franchisor. Rather than depleting her operating cash reserves, she applies for an equipment financing package that spreads the cost over 48 monthly payments. Her studio's existing revenue supports the payments comfortably, and the new equipment improves member experience and reduces maintenance costs.
| Loan Type | Loan Amount | Repayment Term | Best For |
|---|---|---|---|
| SBA 7(a) | Up to $5M | Up to 10-25 years | Full startup cost: franchise fee, buildout, working capital |
| SBA 504 | Up to $5M | 10-25 years | Purchasing commercial real estate for your studio |
| Equipment Financing | $10K - $500K+ | 3-7 years | F45 gym equipment and technology systems |
| Term Loan (Conventional) | $25K - $2M+ | 1-10 years | Strong credit borrowers needing faster approvals |
| Business Line of Credit | $10K - $500K | Revolving | Working capital, marketing, short-term cash flow gaps |
| Working Capital Loan | $10K - $500K | 6 months - 5 years | Early operating costs, payroll, marketing during ramp-up |
According to Forbes, SBA loans remain the most popular and cost-effective option for franchise financing, largely because of the government guarantee that reduces lender risk and allows for lower rates and longer terms. However, the right combination of products will depend on your specific financial profile, the total project cost, and how quickly you need funding.
As reported by CNBC, franchisees who work with lenders that specialize in franchise financing consistently report faster approvals and better terms than those who apply through general-purpose small business lenders. Franchise-focused lenders understand the FDD, know how to evaluate the brand's performance data, and require fewer rounds of clarifying questions during underwriting.
The fitness industry itself continues to show strong growth. According to U.S. Census Bureau reporting, health and fitness activity has remained elevated since the pandemic, with millions of Americans prioritizing fitness spending. This industry trend strengthens the case for F45 and boutique fitness franchises as viable loan candidates, since lenders want to see a growing market behind any new business investment.
The minimum total initial investment for an F45 Training franchise is approximately $349,000, with the upper end reaching $786,000 depending on studio size, location, and local construction costs. The fixed franchise fee is $60,000, paid directly to F45 at the time of signing the franchise agreement.
Yes. SBA loans - particularly the 7(a) program - are one of the most commonly used financing vehicles for F45 franchise startups. F45 Training has been included in the SBA Franchise Directory, which qualifies it for SBA-backed financing. SBA 7(a) loans can cover franchise fees, leasehold improvements, equipment, and working capital, with repayment terms up to 10 years.
Most lenders require a minimum personal credit score of 650 for franchise lending, with many SBA lenders preferring 680 or above. A stronger credit score improves your chances of approval and may result in more favorable interest rates and terms. If your score is below these thresholds, it is worth spending time improving it before applying.
F45 Training requires prospective franchisees to have a minimum of $120,000 in liquid capital. Some sources indicate the requirement may be as high as $300,000 depending on the market. Beyond the franchisor requirement, lenders will want to see sufficient liquid assets to cover the equity injection (typically 10-15% of the total project cost), plus a reserve for working capital during the studio's ramp-up period.
Approval timelines vary by loan type. SBA loans typically take 60 to 90 days from application to funding, though working with an SBA Preferred Lender can sometimes reduce this to 45 to 60 days. Conventional term loans may be approved faster - sometimes within 30 days. Equipment financing approvals can be even quicker, often within 1 to 2 weeks for straightforward applications.
Yes, the $60,000 F45 franchise fee can typically be included in an SBA 7(a) loan. This is one of the key advantages of SBA franchise lending - the franchise fee is considered an eligible use of proceeds. In a conventional loan, lenders may require the franchise fee to be paid out of pocket, so confirming this with your lender upfront is important.
Fitness industry experience is helpful but not required. Lenders are primarily focused on your financial profile - credit score, liquidity, net worth, and ability to service the debt. Prior business ownership or management experience is also a positive factor. If you lack direct fitness experience, a strong business plan, capable management team, and the credibility of the F45 brand can offset this gap.
Interest rates vary based on loan type, your credit profile, the lender, and market conditions. SBA 7(a) loans typically carry rates tied to the prime rate plus a lender spread, which may result in rates roughly in the 7-11% range depending on market conditions. Equipment financing rates generally range from 5-15% depending on the applicant's credit and the term. Conventional term loans may carry fixed or variable rates in a similar range.
Yes. F45 studio equipment - including functional training gear, the Lions LED TV display system, flooring, and audio systems - qualifies for equipment financing. The equipment itself serves as collateral, which typically results in more accessible qualification criteria and competitive rates compared to unsecured lending. Equipment financing terms commonly run from three to seven years.
Typical documents include: personal and business financial statements, two to three years of personal tax returns, the signed franchise agreement, a detailed business plan with three-year financial projections, a copy of the F45 Franchise Disclosure Document, proof of liquid assets, documentation of any collateral, and the completed lender application forms. SBA loans require additional federal forms including Form 1919 and Form 413.
Yes. A comprehensive business plan is required by virtually all lenders for a new franchise startup loan. The plan should include a market analysis, competitive landscape overview, membership ramp-up projections, detailed monthly financial projections for at least three years, the studio's management structure, and a clear articulation of your competitive advantages in the local market.
Yes, and many F45 franchisees do exactly this. A common approach is to use an SBA 7(a) loan for the franchise fee, buildout, and working capital while using a separate equipment financing package for the studio gear. This can result in lower blended rates and more tailored repayment terms for each component of the startup cost. Always coordinate with your lender to ensure the combined debt service fits within your projected cash flow.
Beyond loan repayments, F45 franchisees pay a royalty fee of 7% of gross sales (minimum $2,500 per month), a brand fund contribution of 2% of gross sales (minimum $200 per month), and a fixed marketing fee of $2,500 per month. These ongoing obligations must be factored into your monthly cash flow projections and debt service calculations when applying for financing.
A denial from one lender does not mean you cannot secure financing. Different lenders have different risk appetites and lending criteria. If denied, ask for a detailed explanation of the reasons and work to address them - whether that means improving your credit score, increasing your liquid assets, or strengthening your business plan. Working with a broker or lender network that matches you with multiple funding sources simultaneously can also significantly improve your chances of finding the right fit.
Crestmont Capital offers SBA loans, equipment financing, working capital loans, and business lines of credit - all of which are applicable to F45 franchise financing. As the #1 rated business lender in the U.S., Crestmont has experience working with fitness franchise owners and can help structure a financing solution tailored to your specific project cost and financial profile. Apply online at crestmontcapital.com or contact our team directly for a free consultation.
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Apply Now →Securing an F45 franchise loan is a critical milestone in the journey from prospective franchisee to studio owner. The investment is significant - ranging from $349,000 to $786,000 - but the right financing strategy can make it achievable without depleting your personal savings or leaving yourself undercapitalized during the critical early months of operation. By understanding your options, preparing a strong application, and working with a lender experienced in fitness franchise financing, you give yourself the best possible chance of opening a studio that thrives for years to come.
Whether you choose an SBA 7(a) loan for comprehensive startup coverage, equipment financing to isolate your gear costs, or a combination of products tailored to your situation, the key is starting the financing process early - ideally before you sign your franchise agreement. Crestmont Capital is ready to help you explore your options and structure an F45 franchise loan that fits your goals and financial profile. Apply today and take the first step toward opening your F45 Training studio.
Disclaimer: The information provided in this article is for general educational purposes only and is not financial, legal, or tax advice. Funding terms, qualifications, and product availability may vary and are subject to change without notice. Crestmont Capital does not guarantee approval, rates, or specific outcomes. For personalized information about your business funding options, contact our team directly.